Home
Telecom
Telecom News
Vodafone Raises Stake in Vodafone Idea to 47.61 Percent

Vodafone Raises Stake in Vodafone Idea to 47.61 Percent

Vodafone earlier held 44.39 percent stake in Vodafone Idea Limited (VIL).

By Press Trust of India | Updated: 4 April 2022 14:37 IST

Vodafone Idea had said that its board has approved the allotment of 338.3 crore equity shares

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Prime Metals held 2,18,55,26,081 equity shares
Vodafone in March had announced a Rs. 14,500-crore fundraising plan
Vodafone has raised its stake in debt-ridden Vodafone Idea Limited

British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Limited to 47.61 percent through its subsidiary Prime Metals, a regulatory filing said on Monday.

The company earlier held 44.39 percent stake in Vodafone Idea Limited (VIL).

"Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 percent of the equity share capital, of Vodafone Idea Limited (the "company"). PML has acquired 570,958,646 equity shares of the company through allotment of equity shares pursuant to a preferential issue of the company," the filing said.

Vi Rs. 107, Rs. 111 Validity Vouchers With 200MB Data Announced

On Thursday, Vodafone Idea had said that its board has approved the allotment of 338.3 crore equity shares at Rs. 13.30 per scrip to three promoter group entities - Euro Pacific Securities, Prime Metals and Oriana Investments - for about Rs. 4,500 crore.

This includes allotment of 1,96,66,35,338 equity shares to Euro Pacific Securities (promoter), 57,09,58,646 equity shares to Prime Metals (promoter), and 84,58,64,661 equity shares to Oriana Investments (promoter group).

Vi Rs. 327, Rs. 337 Prepaid Recharge Plans Launched: Details

The telecom operator in March had announced a Rs. 14,500-crore fundraising plan, where promoters would inject Rs. 4,500 crore.

Can OnePlus 10 Pro beat iPhone 13 Pro and Galaxy S22 Ultra? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.